Southern Cross Pet Insurance (SCPI), which processed claims exceeding $29.9 million for the fiscal year ending June 30, 2023, has provided vital insights for brokers and insurance professionals advising clients on pet ownership.
The latest Southern Cross Healthy Futures Report reveals that 61% of New Zealanders now own pets, a notable increase of 7% since 2020, indicating a growing trend in pet ownership.
Benefits of Having a Pet
Kerri Murray, SCPI sales manager and former vet nurse, highlighted the significance of understanding the responsibilities associated with pet ownership.
“While it’s well-known that pets enhance mental health and wellbeing—with 95% of owners affirming this—it’s crucial to grasp the commitments involved,” Murray stated. “Much like welcoming a new baby, prospective pet owners should educate themselves about these responsibilities. By thoroughly researching, planning, and preparing, they can create a nurturing and stable environment for their new companion, ensuring both the pet and the owner enjoy the numerous benefits of this relationship.”
Key Considerations for Prospective Pet Owners
SCPI outlines several critical factors that brokers and insurance professionals should discuss with clients considering pet ownership:
Research Breeds and Species
Clients should research various breeds and species to find a suitable match for their family, lifestyle, and living situation. Important factors include breed size, temperament, activity level, grooming needs, and compatibility with children or other pets. For instance, a Labrador needs a spacious, grassy yard, whereas a Bichon Frise may require less space. Additionally, larger cats need more room, and those with thick coats need more grooming.
SCPI’s recent claims data showed Labradors, cavoodles, and golden retrievers as the most insured dog breeds in 2023, with domestic short hair, ragdoll, and domestic medium hair cats also making the top ten list.
Evaluate Lifestyle
Clients should consider their daily routines, work schedules, and living arrangements to ensure they can meet a pet’s needs. Pets require attention, exercise, training, and companionship, so it’s important their lifestyle can accommodate these demands.
Understand Local Regulations
Clients need to be aware of local council bylaws, including limits on the number of dogs and requirements for registration and microchipping. Different public spaces have specific rules for exercising dogs. While there are generally no limits on cats, ensuring they have a safe space to play and toilet is important.
Financial Responsibilities
Clients should be informed about the financial aspects of pet ownership, including initial adoption or purchase costs, ongoing veterinary care, food, grooming, supplies, training, and potential medical expenses. Budgeting for these expenses is crucial for long-term pet care.
Veterinary Care
Advise clients to schedule regular wellness checks and vaccinations with a veterinarian to maintain their pet’s health and prevent illnesses. Establishing a relationship with a trusted veterinarian is important for ongoing medical care.
Pet Insurance Benefits
Highlight the advantages of pet insurance in mitigating veterinary care costs in case of accidents, illnesses, or emergencies. Pet insurance provides financial peace of mind and ensures pets receive necessary medical treatment.
Long-Term Commitment
Clients should consider potential changes in their life circumstances, such as moving, starting a family, or changes in employment, and how these may impact their ability to care for a pet over time.
Training and Socialisation
Emphasise the importance of proper training and socialisation for pets. Puppy training classes, obedience training for dogs, and early socialisation with people and other animals are essential for a well-adjusted pet.
Pet-Proofing the Home and Garden
Encourage clients to prepare their home for a new pet by pet-proofing their living space and removing potential hazards. Securing cabinets, electrical cords, toxic plants, and small objects that could be harmful if ingested is essential for a pet’s safety.
By understanding and addressing these considerations, brokers and insurance professionals can help clients make informed decisions about pet ownership, ensuring both pets and owners enjoy a happy, healthy relationship.
